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09/05/2007
Fast-growing international planning and engineering consultant Scott Wilson, recently backed by Growth Company Investor at 312.63p, has delighted investors with a savvy acquisition in the South West and the news that forthcoming full-year figures will beat forecasts.
Operating a global network of offices serving the transport, property, environment and natural resources sectors, Scott Wilson has acquired DCL Consulting Engineers, a Plymouth-based property consultant enjoying above average margins and serving universities, colleges and district councils, for �1.1m in cash and shares.
Chairman Geoff French said the two groups are ‘already collaborating on active projects’ and will offer a greater range of services. ‘Jointly, we’re the largest locally-based consultant serving the property sector,’ he explained, ‘and it’s another small step along the acquisition trail that we’re on.’
Next to the DCL acquisition, French flagged ongoing buoyancy in Scott Wilson’s key markets in the second half of its financial year to the end of April, and boasted that annual results will come in ahead of analysts’ numbers when they are announced in July. Strong organic growth and good performances from businesses bought since flotation in March 2006 are driving profits, and the group’s order book has grown to a record high, supported by a slew of high-profile contract wins, among them the East London Line, Edinburgh Airport Rail Link and the Greece Ionian Motorway.
Growth Company Investor has consistently lauded the strengths of Scott Wilson, which has expanded swiftly over the last few years and now plies its trade as far afield as China, Dubai, Hong Kong, South Africa and Thailand. Analysts are now looking for pre-tax profits of �16.8m, upgraded from �16m, and 14.9p of earnings, increased from 14.2p. Scott Wilson merits its premium rating and the shares are not to be sold.
James Crux
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